Compliance staff inside the acquirer have been preparing for the integration since early March. It is the kind of deal that says less about price than about positioning for the next cycle. The combined entity is expected to manage just over four billion dollars when the transaction closes. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Industry observers expect a small wave of follow-on deals from competitors.
The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
The detail
Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Compliance staff inside the acquirer have been preparing for the integration since early March. Both sides described the transaction as transformational, but neither would discuss financial terms on the record. The combined entity is expected to manage just over four billion dollars when the transaction closes. Industry observers expect a small wave of follow-on deals from competitors.
“The five-billion-dollar firm is the new pricing fulcrum.” Custody consultant
Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. Compensation for the senior partners is rumored to be tied to a five-year retention schedule. Industry observers expect a small wave of follow-on deals from competitors.
What it means for advisors
Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. The combined entity is expected to manage just over four billion dollars when the transaction closes. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Insiders say the firm has been quietly building out its alternatives platform since last summer.
- Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
- Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
- Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. It is the kind of deal that says less about price than about positioning for the next cycle. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years.
